Acquisitions to play a part in NetOptions growth

Acquisitions to play a part in NetOptions growth

Brisbane-based service provider, NetOptions, is hunting for acquisition targets following a strong finish to its financial year.

Managing director, Richard McAlary, said the decision to take an aggressive stance was prompted by a record final quarter.

Increased sales revenues had come from across the board, he said, including its core procurement business. McAlary reported a 30 per cent jump in units shipped last year.

The unforeseen growth spurt had given the company the impetus to earmark the current financial year as an ambitious period of business development, McAlary said.

"There hasn't been a year where we have not merged or acquired," he said. "We have marked this year as a strong one and ware planning to expand significantly."

McAlary said the company expected to grow more than 30 per cent in the coming year.

It was now building up its engineering capabilities as well as its software development division. It acquired Queensland-based software development company, MU Systems, in October.

NetOpt maintains full service offices in Victoria and Queensland, as well as a smaller operation in NSW.

Plans to establish an office in Perth last year, however, had temporarily been abandoned after the company lost a major WA contract, McAlary said.

See this week's ARN for more on this story.

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